AnnualReportfor2024Final2025 - Flipbook - Page 29
In common with all audits under ISAs (UK), we are also
required to perform speci昀椀c procedures to respond to
the risk of management override.
We identi昀椀ed and obtained an understanding of the
laws and regulations that are of signi昀椀cance to the
Charity by discussions with Trustees and by updating
our understanding of the sector in which the Charity
operated in. Laws and regulations that are of direct
signi昀椀cance to the Charity and of which non compliance
could result in material misstatement are the Charities
Act, Charities SORP and tax legislation.
In addition, we considered provisions of other laws
and regulations that do not have a direct effect on the
昀椀nancial statements but compliance with which may
be fundamental to the Charity’s ability to operate or to
avoid a material penalty.
Our procedures to respond to the risks identi昀椀ed
included the following:
• Reviewing the 昀椀nancial statement disclosures
and testing to supporting documentation to assess
compliance with provisions of relevant laws and
regulations described as having a direct effect on
the 昀椀nancial statements;
Reviewing
the 昀椀nancial statement disclosures and
•
testing to supporting documentation to assess
the recognition of revenue, in line with longer-term
contract accounting methodologies;
Enquiring
of Trustees and management concerning
•
actual and potential litigation and claims;
Performing
procedures to con昀椀rm material compliance
•
with the requirements of the above regulations;
Performing
analytical procedures to identify any
•
unusual or unexpected relationships that may
indicate risks of material misstatement due to fraud;
• Reading minutes of Trustee meetings; and
• In addressing the risk of fraud through management
override of controls, testing the appropriateness of
journal entries and other adjustments; and assessing
whether the judgements made in making accounting
estimates are indicative of a potential bias.
We also communicated relevant identi昀椀ed laws and
regulations and potential fraud risks to all engagement
team members and remained alert to any indications
of fraud or non compliance with laws and regulations
throughout the audit.
may involve deliberate concealment by, for example,
forgery, misrepresentations or through collusion.
There are inherent limitations in the audit procedures
performed and the further removed non compliance
with laws and regulations is from the events and
transactions re昀氀ected in the 昀椀nancial statements, the
less likely we would become aware of it.
A further description of our responsibilities for the
audit of the 昀椀nancial statements is located on the
Financial Reporting Council’s website at: www.frc.org.
uk/auditorsresponsibilities. This description forms part
of our Auditors’ Report.
Use of our report
This report is made solely to the Charity’s members, as
a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006, and to the charitable company’s
trustees, as a body, in accorance with regulation 10
of the Charities Accounts (Scotland) Regulations 2006.
Our audit work has been undertaken so that we might
state to the charitable company’s members and Trustees
those matters we are required to state to them in an
Auditors’ Report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume
responsibility to anyone other than the charitable
company and its members, as a body, for our audit work,
for this report, or for the opinions we have formed.
Andrew Wood FCCA (Senior statutory auditor)
for and on behalf of
Bishop Fleming LLP
Chartered Accountants
Statutory Auditors
1-3 College Yard
Worcester WR1 2LB
Date: 14 August 2025
Bishop Fleming LLP are eligible to act as auditors in
terms of section 1212 of the Companies Act 2006.
Our audit procedures were designed to respond to risks
of material misstatement in the 昀椀nancial statements,
recognising that the risk of not detecting a material
misstatement due to fraud is higher than the risk of
not detecting one resulting from an error, as fraud
Vincent Wildlife Trust Annual Report and Financial Statements 2024 29
